Steel Mills

Rumors of Potential Buyers for US Steel Kosice
Written by Sandy Williams
July 27, 2016
US Steel Kosice, located in Slovakia, is attracting attention from Chinese, Russian and South Korean investors according to a report by BNE Intellinews.
The steelworks is Slovakia’s biggest employer in an area of high unemployment. Local media outlet SME said analysts are suggesting the mill may be taken over by South Korean steel mill POSCO which has an established relationship with US Steel.
US Steel considered selling Kosice three years ago but decided to keep the plant after receiving incentives from the government. According to BNE Intellinews, US Steel has been in contentious flights with the union and government regarding its plans for the plant.
Intellinews reported thee Slovak government said in May it would consider buying a stake in the plant if US Steel seeks an exit by “selling to a ‘non-standard’ owner.”
SME reported that Russia’s Metallaoinvest group and an unnamed Chinese company have shown interest in the Kosice plant as well as POSCO.
US Steel reported a strong performance for its European segment in Q2 with capacity utilization at 101 percent.

Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills

Toyota Tsusho America to acquire Radius Recycling for $1.34 billion
The companies said Thursday that Radius shareholders will receive $30 per share in cash upon the deal’s closing, which is expected in the second half of this year.

Algoma resumes steel shipments to US, sees opportunity in tariffs
Algoma Steel has resumed shipments to the US, effective Friday, March 14. And the Canadian steelmaker sees a potential opportunity with the current tariff situation.

Algoma posts narrower Q4 loss, braces for tariff impact as US shipments pause
Algoma Steel's net loss narrowed in the fourth quarter vs. a year earlier amid economic uncertainty and tariff-related issues.

Evraz NA refutes report it falsified tests on plate for US military
Employees at Evraz North America, a subsidiary of Russia's Evraz plc, reportedly falsified quality control test results on armored plate for military vehicles. Evraz NA denies the claims.

Pacific Steel breaks ground on California rebar mill
Pacific Steel Group has broken ground on its Mojave Micro Mill in Southern California.